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14210Re: [LandCafe] Misc taxation Gesell & Johansen

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  • Scott Bergeson
    Oct 25, 2012
      Quoting k_r_johansen on Thu, 25 Oct 2012 20:45:37 -0000:

      Interesting concept. In most cases, owners servicing mortgages would just
      use their UIEs as an offset to the LVT and continue making the payments.

      If we are talking about a straight swap from income tax to
      LVT, most people would theoretically still have the ability to
      pay. The problem is, and I admit I'm looking at this from the
      Bankster's side, that the collateral just isn't there any more
      (assuming capital values do fall, which I believe they will),
      and the change in risk has implications. Imagine that the country
      suddenly changed systems, and (by the figures I gave), a debt load
      of somewhere around 50% of GDP changed from being collateralized
      to more or less personal loans, but at an interest of 4%.
      Govt. would have to step in as a guarantee in either scheme.

      Abolish collateral. Even more than land privilege, that
      bankster concept keeps people enslaved. If it isn't
      outright security; i.e., something that can be handed over
      to the lender, thus entirely discharging the debt; the
      debt is unconscionable, and ought to be nullified outright.

      Obviously, this also requires concomitant abolition of
      Glass-Steagall (FDIC). Write down all deposits in any given
      institution proportionate to nullification of its assets.
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